Arkansas Insurance Department cautions drivers against car policy scam

Arkansas Insurance Department - car - hand - insurance scam

Commissioner Allen Kerr has issued a warning to consumers in the state due to fraudulent policy sales. The Arkansas Insurance Department recently issued a warning to drivers to take care when purchasing an auto insurance policy. There has been a broad rash of fraudulent car insurance policy sales in the state. The fake car insurance is being sold by people posing as agents and are primarily selling at dealerships. According to the Arkansas Insurance Department warning, the fraudulent auto insurance policies are being sold mainly at car dealerships. People pretending…

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Wells Fargo auto insurance forced on borrowers who didn’t need it

Wells Fargo insurance scandal

The bank charged customers for unnecessary coverage, leading to 25,000 wrongful vehicle repossessions. A new report determined Wells Fargo auto insurance was forcibly sold to customers who did not require this coverage. As a result of the bank’s activity, there were approximately 25,000 wrongful vehicle repossessions. Over 800,000 people who took out Wells Fargo car loans were charged for unnecessary insurance. The added expense of the unnecessary Wells Fargo auto insurance was too much for some borrowers, whose vehicles were wrongfully repossessed. The report showed that among 800,000 of the…

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Michigan insurance scam may have left many paying for phony coverage

Michigan insurance regulators are reporting that hundreds of drivers in Detroit may be victims of a scam. Nearly 1,000 fraudulent insurance policies were issued from a company based in Texas. State regulators have ordered Michigan-based Don Diamond and Ethos insurance to stop fraudulent deals as they continue investigating the situation. The policies in question seem to have originated from either Diamond or Ethos. Diamond argues that the fake policies come from malicious subcontractors in Detroit. While state regulators suspect that as many as 1,000 people have fallen prey to the…

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